Fraud or deceit in connection with offer, sale, or purchase of securities

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It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly:

  1. (1) To employ any device, scheme, or artifice to defraud;

  2. (2) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or

  3. (3) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.


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